Southlake resident and President and CEO of Newstream Companies Tim Nystrom says he was attracted to entrepreneurial opportunities from an early age.

After graduating from Baylor University, he purchased a Smoothie King franchise, which turned into several Smoothie Kings, which lead to a successful real estate company and eventually a commercial development company, focusing on hotel and mixed-use retail development, that’s shaping the Metroplex.

His team has taken on some of the hottest local developments like revisioning downtown Roanoke, building out a lifestyle development in Flower Mound and now creating a new property in Grapevine.

“It’s not just about building something,” Tim says. “It’s about creating something that has a footprint and stamp that leaves a legacy.”

He, alongside his brother Matt Nystrom, also wanted to get involved with the restaurant industry, so they opened Craft & Vine Taproom & Eatery inside one of their developments. And after its success, they went on to open Stacks Biscuit House.

“I knew one day I really wanted to open a few restaurant concepts,” Tim explains. “It’s a passion for me.”

While Tim is balancing a lot of other projects, he still is excited to grow his restaurant portfolio, whether that be opening a second Craft & Vine location or developing a new concept in the future for local diners. And he credits his team for giving him the support to take on more legacy-building opportunities.

“They really embrace their roles and embrace what they are doing,” Tim says. “As long as you have really talented people working for you, it’s easy to compartmentalize.”

When he’s not working, Tim enjoys traveling with his wife Donna and their three children, Andrew, Zac and Madison. The two are also very active in CISD because they know how lucky they are to be in a city with such a thriving school system and community.

“We knew we wanted to get our kids into a good school district and be in a really good community,” Tim says. “We plan on being here for a while.”

Developer Newstream Commercial Development began foundational work on the property in April. That work will pave the way for Roanoke Village’s first building, a 128-room SpringHill Suites hotel, to begin construction in October or November. The hotel is expected to be completed in January 2021, Newstream Commercial Development CEO Tim Nystrom said.

“With a hotel on that property, corporate and leisure travelers have an option of choosing a hotel attached to a city center,” he added.

The SpringHill Suites will be located close to The Peabody Roanoke, a luxury hotel expected to open by April 1, 2022. However, Newstream does not see The Peabody as a competitor, Nystrom said. Instead, he sees the opportunity for cross-promotion between the hotels. The SpringHill Suites could also accommodate guests who are using The Peabody’s event space but are unable to find a room at the hotel, he added.

In addition to the hotel, Roanoke Village will have a medical building, an office building, and two buildings with retail and restaurant space. According to plans submitted to the city of Roanoke, the project will include 28,470 square feet of retail space, 11,273 square feet of restaurant space and 14,500 square feet of office space.

Newstream is still looking to attract tenants to fill those buildings, such as fresh restaurants and service-related businesses needed to serve the area’s growing residential population, Nystrom said.

The retail buildings are expected to open by next fall. Nystrom said there is not completion date yet for the additional buildings.

While Roanoke Village does not have room for expansion, Newstream would consider other development opportunities in Roanoke.

“We are definitely bullish on Roanoke and that corridor,” Nystrom said. “If there are other opportunities, we will look at other good opportunities.”

https://www.newstreamcommercial.com/wp-content/uploads/2019/11/RV_HOTEL-1-cropped.jpg5581500adminhttps://www.newstreamcommercial.com/wp-content/uploads/2019/02/Newstream-Commercial-web-logo-05.svgadmin2019-11-05 07:21:252019-11-05 20:34:39Mixed-use development with hotel to begin construction this fall in Roanoke

Roanoke City Council has paved the way for the construction of a mixed-use development that would bring a hotel and thousands of square feet of retail, restaurant and office space to the city.

City Council approved at its July 9 meeting the final plat, or site plan, for Roanoke Village. The initial site plan was first approved in January.

The final plat approval was required before city staff and the project’s developer, Newstream Land Partners, can begin preconstruction meetings. Construction could begin after those meetings.

The 6.25-acre project is set to be built at the southeast corner of Parish Lane and US 377. Plans call for five buildings. One will be a 128-room SpringHill Suites hotel; one will be a medical building; one will be an office building; and two will have retail and restaurant space.

According to plans submitted to the city, the project will include 28,470 square feet of retail space, 11,273 square feet of restaurant space and 14,500 square feet of office space.

Newstream started foundational work at the site in April, said Troy Lewis, vice president of development with Newstream Construction Services. Construction could begin by this fall, he added.

There is no timetable on when construction could be completed, Lewis said.

“The project will be a destination within itself, with connectivity to downtown [Roanoke] as well,” Roanoke Assistant City Manager Cody Petree said. “The hotel will be within walking distance of stores, restaurants and other amenities. This area is one of the ‘front doors’ into the city, so it’s great to see [the project] planned out so well and aesthetically pleasing.”

Roanoke City Council approves final plans for mixed-use development with hotel. Plans call for 78 residential units and 5,070 square feet of retail space. The project will also include 16 live-work units that combine living and work areas into a single unit.

https://www.newstreamcommercial.com/wp-content/uploads/2019/11/roanoke-village.jpg11251500adminhttps://www.newstreamcommercial.com/wp-content/uploads/2019/02/Newstream-Commercial-web-logo-05.svgadmin2019-11-02 05:19:352019-11-05 20:35:26Roanoke City Council approves final plans for mixed-use development with hotel

Leo Spriggs, President and CEO of Hospitality Management Corporation (HMC), is pleased to announce the addition of this 263-room Four Points by Sheraton® in Little Rock, Arkansas, to their portfolio of managed hotels. HMC continues its ongoing business expansion which is made up of full service, conference center, select service and limited service hotels. HMC is one of the country’s largest third-party privately held hotel management companies, ranked in the top 40 of all third party and owner operated hotel management corporations.

The hotel is minutes from Little Rock’s major attractions including Little Rock Central High School National Historical Site, the William J. Clinton Library & Museum, Little Rock Zoo and War Memorial Stadium. Other amenities include an outdoor pool with poolside dining, fitness center, complimentary Wi-Fi, complimentary parking, smart TVs and state of the art business center. Dining includes the Grand Café serving breakfast and dinner and Bar RX, one of Sheraton’s Best Brews™ for lunch, specialty drinks and a daily happy hour from 5:00pm to 7:00pm.

The property is also ideal for business or group travel with 13,000 sq. ft. of adjustable meeting space able to accommodate for large or small occasions and an experienced sales staff to create one-of-a-kind custom experiences. Expert event planners are also on-site to assist in creating unique weddings, parties and celebrations.

“HMC continues to expand its list of US managed hotels and we are pleased to be working with our Sheraton® and Marriott® partners on another hotel,” said Leo Spriggs, CEO. “The hotel’s location makes it an ideal property to focus on expanding group/event business, as well as to assure guests receive the very best possible service. Our goal is to create additional revenue opportunities and we feel confident of the property’s future position in the marketplace.”

Scott Tarwater, President, Newstream Hotels and Resorts, stated, “we are delighted to have Leo and his very talented team at (HMC) manage the Four Points by Sheraton in Little Rock, Arkansas for us.”

Founded in 1971, HMC is a privately owned independent management company and one of the oldest independent hotel management firms in the U.S. lodging industry. For over four decades, HMC has been a leader in providing hotel management services for institutional and private owners and continues to strive for excellence in hospitality management and hotel development across the United States. Since its inception, the company’s headquarters have been in Dallas, TX.

Newstream Hotels and Resorts is the hospitality division of Newstream Commercial, a Dallas commercial real estate development company founded in 2015. Newstream prides itself on offering exceptional commercial property development founded on core Christian principles and bringing a high degree of character and trustworthiness. Newstream has recently completed 2 mixed-use commercial buildings in Roanoke, Texas featuring Craft & Vine Taproom & Eatery, Wise Guys Pizzeria, Foster’s fine sushi and Newstream Commercial’s new corporate headquarters. Additionally, Newstream Hotels and Resorts recently acquired the Holiday Inn Express I-40 East in Albuquerque, NM also managed by HMC. www.newstreamcommercial.com

About Four Points

Four Points by Sheraton, part of Marriott International, Inc., includes nearly 250 hotels in over 40 countries and territories. At Four Points, travel is reinvented, and guests can find the timeless style and comfort they’re looking for with genuine service and everything that matters most, all around the world. Four Points hotels can be found in big urban centres, by the airport, near the beach, and in the suburbs. Each hotel offers a familiar place with an authentic sense of the local, and friendly genuine service where guests can relax and unwind, watch local sports, and enjoy the brand’s Best Brews and BBQ™ program. Four Points is proud to participate in the industry’s award-winning loyalty program, Starwood Preferred Guest®. Members can now link accounts with Marriott Rewards®, which includes The Ritz-Carlton Rewards® at members.marriott.comfor instant elite status matching and unlimited points transfer. To learn more, visit us online and stay connected to Four Points on Facebook.

About Marriott Hotels

With over 500 hotels and resorts in 65 countries and territories around the world, Marriott Hotels is evolving travel through every aspect of the guest’s stay, enabling the next generation to Travel Brilliantly. Boldly transforming itself for mobile and global travelers who blend work and play, Marriott leads the industry with innovations, including the Greatroom lobby and Mobile Guest Services that elevates style & design and technology. To learn more, visit www.MarriottHotels.com. Stay connected to Marriott Hotels on Facebook, @marriott on Twitter and @marriotthotels on Instagram. Marriott Hotels is proud to participate in the company’s award-winning loyalty programs – Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest® (SPG). The programs, operating under one set of unparalleled benefits, enable members to earn points toward free hotel stays, achieve Elite status faster than ever, and seamlessly book or redeem points for stays throughout our loyalty portfolio of 29 brands and more than 6,700 participating hotels in 130 countries & territories. To enroll for free or for more information about the programs, visit members.marriott.com.

The 263-room Four Points by Sheraton hotel in Little Rock has been sold to a Texas firm for $10.4 million, according to a warranty deed last month.

Al Rajabi and his Windsor Capital sold the Four Points by Sheraton, at 925 S. University Ave., to Newstream Hotel Partners of Roanoke, Texas. Rajabi bought the Little Rock hotel, which was built in 1976, in 2014 for $5 million and signed on to the Sheraton brand. It also has been part of the Hilton and Clarion chains over the years.

W. Michael Cox, an internationally recognized economist and expert on financial trends, is the first speaker in the 2018-19 Distinguished Lecture Series at Harding University in Searcy.

Cox, whose appearance will begin at 7:30 p.m. today in the school’s Benson Auditorium, will address “the present and future of the global economy, all based on historical financial data and painstaking research,” according to a news release from the university.

The event is free and open to the public.

Cox, a 1972 graduate of Hendrix College in Conway, is the former chief economist and senior vice president of the Federal Reserve Bank of Dallas, where he advised presidents on monetary and other economic policies for 25 years. He holds the distinction of being the only chief economist in the Federal Reserve System’s history.

Cox is the chief executive officer of W. Michael Cox and Associates of Dallas and director of the O’Neil Center for Global Markets and Freedom in the Cox School of Business at Southern Methodist University.

He is the author of Myths of Rich and Poor: Why We’re Better Off Than We Think.

— Noel Oman

State index ticks up 1.10 point to 463.00

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 1.10 to 463.00 Monday.

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“Concerns over the potential wider impact of the trade battle between China and the United States, combined with oil prices hitting a four-year high, pushed stocks lower around the world on Monday,” said Chris Harkins, managing director with Raymond James & Associates in Little Rock.

Total volume for the index was 15.1 million shares.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Grapevine City Council approves new townhouses at SH 360

On June 19 the Grapevine City Council approved a zoning change to allow for 69 townhouse units at 4201 SH 360, Grapevine. The community will be called The Reserve at Bear Creek.

The estimated price range for the homes will be about $400,000 with floor plans of 2,800 and 2,600 square feet. Each townhouse will have a two-car attached garage and a small patio. The floor plans exclude the garages, patio and balconies from those area calculations. The site will also feature a community swimming pool and a covered gazebo area, walking trails within the development, as well as connectivity to the city trail system, direct access to Bear Creek Dog Park and internal pocket parks.

The town house site gently slopes from west to east, toward the Big Bear Creek, where the applicant said the floodway area will be retained in a natural state, preserving the surrounding tree-covered area. The plan will also use the resulting greenbelt for a pedestrian trail to connect the internal walks with a trail along the open space of the creek. Additional internal open space areas will be for use of the residents.

The property will be located less than eight minutes from the terminals of Dallas-Fort Worth International Airport.

The applicant told the council the project is expected to develop in the next nine to 12 months and the homes will be built next year.

https://www.newstreamcommercial.com/wp-content/uploads/2018/07/Reserve_Bear_Creek-1.jpg5841200adminhttps://www.newstreamcommercial.com/wp-content/uploads/2019/02/Newstream-Commercial-web-logo-05.svgadmin2018-07-13 02:49:312018-07-13 02:50:49Grapevine City Council approves new townhouses at SH 360

NEWSTREAM COMMERCIAL COMPLETES $11.2 MILLION FINANCING ROUND LED BY SPECTRUM ORIGINATION LLC, IN PREPARATION FOR NEW UNSCRIPTED HOTEL BY DREAM HOTEL GROUP

Commercial Real Estate Development Company Secures 12-Acre Site to Develop First Ground-Up Unscripted Hotel by Dream Hotel Group FLOWER MOUND, TEXAS (September 27, 2017) — Newstream Commercial today announced $11.2 million in private financing for the acquisition and development of a 12-acre commercial site located in the heart of the Lakeside DFW upscale community of Flower Mound, Texas.

Spectrum Origination, LLC provided a $7.1 million variable-rate land acquisition and development loan. Spectrum Origination is an affiliate of Spectrum Group Management LLC, a New York based, registered investment advisor.

Private equity investors contributed $4.1 million of equity capital to secure the transaction in preparation for its Unscripted Hotel anchor tenant.

Located at 500 Long Prairie Road in the town of Flower Mound, Texas, just five miles and two green lights north of Dallas-Fort Worth International Airport, the Lakeside Crossing development will include a 66,200-square-foot, five-story hotel and hospitality venue by Dream Hotel Group, 15 three-story luxury townhomes by Dynasty Luxury Homes, four professional office buildings and two exclusive retail and restaurant facilities, all totaling more than 200,000 square feet of prime commercial real estate.

The upscale hotel will be part of Unscripted Hotels, a new lifestyle and hospitality concept designed for the progressive creative traveler by Dream Hotel Group. Slated to open in 2019, Unscripted DFW will feature 134 guest rooms and suites, a full-service restaurant, a spacious rooftop lounge with dramatic sunset views and live entertainment overlooking Lake Grapevine, and nearly 4,000 square feet of meeting space.

The site plan was developed by locally recognized G&A Consultants engineering firm and Marcus Trimble, AIA, Professional Architecture & Design.

The financing placement team was led by George Galloway of Galloway & Gilliland Law Firm and Rob Lawson, COO/CFO and partner of Newstream Commercial, LLC.

Scott Tarwater, President of Newstream Hotels and Resorts, was instrumental in locating this site and obtaining proper zoning approval, stating: “Lakeside Crossing will be the gem of Flower Mound, bringing a unique blend of upscale modernism and town culture together in a beautiful natural setting.”

Tim Nystrom, President/CEO of Newstream Commercial, set the foundation for the vision of Newstream Commercial, noting: “It is a beautiful thing when your vision becomes reality and we thank all of our partners and supportive relationships for making this dream come true. We especially want to thank Flower Mound Mayor Tom Hayden and his team of professionals who worked tirelessly to support Lakeside Crossing.”

ABOUT DREAM HOTEL GROUP

Dream Hotel Group is a hotel brand and management company with a rich, 30-year history of managing properties in some of the world’s most highly competitive hotel environments. Home to its Dream Hotels, Time Hotels, The Chatwal and Unscripted Hotels brands, Dream Hotel Group encompasses three business lines: Proprietary Brands, Hotel Management and Dining & Nightlife. The Company is committed to the philosophy that forward-thinking design, service and guest experiences should be available across market segments. Dream Hotel Group is dedicated to offering travelers an authentic connection to their chosen destination through a truly original approach. www.dreamhotelgroup.com

ABOUT NEWSTREAM HOTELS AND RESORTS

Newstream Hotels and Resorts is the hospitality division of Newstream Commercial, a Dallas commercial real estate development company founded in 2015. Newstream prides itself on offering exceptional commercial property development founded on core Christian principles and bringing a high degree of character and trustworthiness. Newstream has recently completed 2 mixed-use commercial buildings in Roanoke, Texas featuring Craft & Vine Taproom & Eatery, Wise Guys Pizzeria, Foster’s fine sushi and Newstream Commercial’s new corporate headquarters. www.newstreamcommercial.com

ABOUT SPECTRUM GROUP MANAGEMENT, LLC

Founded in 1999, Spectrum Group Management is an alternative asset management firm that focuses on investing in the real estate, high-yield, special situations, and asset-based credit markets.

A development firm has been given the green light by the Town of Flower Mound to build a 12-acre mixed-use neighborhood adjacent to Lakeside DFW, which includes a five-story, 134-room hotel.

The mixed-use development, called Lakeside Crossing, will sit on the west side of Long Prairie Road near the intersection of Lake Forest Boulevard, and will also include about 100,000 square feet of retail, office and restaurant space with about 15 luxury townhouses.

Keller-based Newstream Commercial, which is affiliated with Newstream Hotels & Resorts, plans to soon begin building the hotel — flagged by Dream Hotel Group’s Unscripted Hotels brand — for it to open in 2019.

The Unscripted DFW hotel will include 134 guest rooms and suites with nearly 4,000 square feet of meeting space, a full-service restaurant and a rooftop lounge for guests. This is the first ground-up build for the brand, officials said.

Dream Hotel Group CEO Jay Stein said this concept will add to the community of the Town of Flower Mound.

“The Dallas-Fort Worth area, specifically the Town of Flower Mound, is one of the most exciting and welcoming places in the U.S., and it’s our goal to introduce new concepts that reflect and enrich the place it calls home,” he said, in a statement.

Mayor Pro Tem Don McDaniel said the hotel will give the town’s business travelers another lodging option with even more dining and shopping from the Lakeside Crossing mixed-use development for residents.

By having Lakeside Business District, Director of Economic Development Andrea Roy said the town has been able to retain some of its existing growing businesses — and she expects to same to happen with this extension of the district.

The Town of Flower Mound assisted with the project. The details of the economic incentives offered by the town were not immediately available.

There’s been a spree of hotel developments throughout North Texas, with developers building projects based on solid RevPAR stats in the region. The influx of companies and residents into Dallas-Fort Worth has bolstered these fundamentals, real estate sources say.

Labeling the Flower Mound Town Council and staff support on Monday for the Lakeside Crossing Development as enthusiastic is an understatement.

Council members passed both the rezoning request and the financial Chapter 380 Agreement for the 12-acre mixed-use development located just south of Lakeside DFW, between FM 2499 and Northwood Drive.

The environmentally-protected north-south central area features an intermittent stream surrounded by natural green-space.

“This [approved rezoning from Agricultural and Campus Commercial] will make the property all one zoning,” said Doug Powell, executive director of Development Services. He added that the developers had showed a “good-faith effort” to amend the previous concept plan concerns voiced by Planning and Zoning Commissioners during the May 5 meeting.

The heart of the development is the Unscripted Hotel, located at the north side of the development. The Flower Mound location will be the first ground-up build for the Dream Hotel Group brand. The New York-based hotel group is partnering with Flower Mound’s own Scott Tarwater’s Newstream Hotels and Resorts, the Newstream Commercial development group and G&A Consultants to construct the entire project.

Mayor Pro Tem Don McDaniel pointed to the developer’s addition of pedestrian and vehicular connectivity to the Lakeside DFW development to the north, as well as the peripheral building and plaza placement to maintain the natural center.

“The buildings were placed to take advantage of the ephemeral stream and the southern outcroppings,” he said. The hotel and interior office buildings’ views overlook the whole central natural setting green-space.

In addition to the hotel, Lakeside Crossing will include approximately 100,000-square-feet of retail, office and restaurant space, in addition to approximately 15 luxury townhomes. The overall design of Lakeside Crossing will have a unique design incorporating stone and wood architectural features echoing its natural surroundings. The Unscripted Hotel DFW will be the first building developed.

“The inspiration behind the design elements was to preserve the views– from the inside to the outside; and, from being surrounded by nature on the lower levels, up to being in the tree canopy on the highest levels,” said Randi Rivera with G&A Consultants in her presentation for the 66,000-square-feet, five-story hotel.

“The Dallas/Fort Worth area, specifically the Town of Flower Mound, is one of the most exciting and welcoming places in the U.S.; and, it’s our goal to introduce new concepts that reflect and enrich the place it calls home,” said Jay Stein, CEO, of the Dream Hotel Group.

Responding to Council member Jason Webb’s question about how the hotel will be marketed to draw its guests to Flower Mound, Newstream Commercial President Tim Nystrom replied the target visitors are Gen X, Millennials and Gen Z populations.

“It will have a social gathering that emphasizes connectivity and an upscale lifestyle brand that values fewer high-quality things over accumulating more; and, a ‘being alone together’ communication style,” he said.

He added that being only two green-lights from DFW International Airport will attract business travelers– especially from Japan dealing with Kubota Tractors. It will also attract Flower Mound residents’ family visitors, “staycationers” and overflow guests from Great Wolf Lodge and the Gaylord Texan in Grapevine.

In a telephone interview from Colorado, Scott Tarwater said: “It’s truly a dream come true. We are just thrilled at the result.”

Unscripted DFW will be his 80th hotel built from the ground up– including the Flower Mound Courtyard by Marriott at The River Walk– but it’s the one he’s most proud of; because it’s on his family’s homestead.

“[Mayor] Tom [Hayden], [Town Manager] Jimmy [Stathatos] and Doug Powell and his whole staff have really been a dream– no pun intended– to work with,” he said. “They worked day and night to help make this work. Everyone on all sides have worked for a common goal.”

The anticipated groundbreaking is scheduled for either November or December 2017, with an opening in the first quarter of 2019. Unscripted DFW will feature 134 guest rooms– including two king- and queen-suites each– plus a full-service restaurant and 24-hour room service, a rooftop lounge and terrace bar, a pool with surrounding patio area, plus nearly 4,000-square-feet of meeting space.

“The Lakeside Crossing Development will be a wonderful addition to the Lakeside Business District; offering a mix of office, retail and restaurant space, all located in a setting that has been carefully designed to take advantage of the natural beauty of the site,” said Director of Economic Development Andrea Roy. “Already, the project has provided the opportunity to retain some of our existing growing businesses that would have otherwise relocated to meet their expanding space needs.”

The willingness of the developers and town staff to work together and bring a quality project to Flower Mound sets a positive precedence for future developments.